Contractor Insurance in New Mexico

  • Compare quotes in minutes, with no obligation to buy
  • Buy online and receive coverage confirmation – instantly
  • Access only top-quality insurance companies (A-rated or better)

Get instant quotes

Why do general contractors need insurance in New Mexico?

Construction is among the biggest sectors in The Land of Enchantment. Over 12,540 people work in this industry. New Mexico contractors may benefit from contractor insurance.

Construction sites are dangerous places to be. Small businesses could be facing an issue with liability in the event of a minor accident, regardless of whether it’s in a commercial or residential project. Contractor insurance safeguards New Mexico businesses from costly accidents, unexpected delays and other common issues.

Contractor insurance refers to different types insurance which a general contractor may consider.

  • General Liability
  • Business Owner’s Policy
  • Workers’ Compensation

BizInsure provides insurance for contractors in New Mexico.

Who needs contractor insurance in New Mexico?

Contractors typically buy insurance policies to safeguard their personal and business finances. General Liability, and other insurance policies can be a vital safety net for your business.

It is possible that specific kinds of insurance are required to conduct business with a specific client (a condition that is usually stipulated in contracts for business).

Click on your occupation to learn about the insurance options available to you. It is also possible to get started on with a customized quote.

Customer service icon

Speak to licensed agents

You’ll be able to rest assured that you’ve got top-rated insurance for your contractor business at a reasonable price.
BizInsure’s knowledgeable and licensed agents are able to assist you in finding the insurance that is right for you.

What insurance policies do contractors need in New Mexico?

New Mexico contractors often look at several different types of insurance. These insurance policies can help you manage the risks that are common to general contractors working on their jobs.

General Liability insurance

Construction sites are a place where anything could happen. Your business could suffer from an innocent action, like placing your equipment in the wrong place.

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, General Liability insurance can protect your business against bodily injury or property damage lawsuits from outside parties.

New Mexico General Liability insurance safeguards your financial security by covering legal costs if someone claims that you caused injury to them or damage to their property. It also pays to remedy the issue (up to the policy limits) through the payment of medical bills repairs, costs for repair, or replacement costs.

Business Owner’s Policy

When you are in the construction business it isn’t always smoothly. Incomplete projects, broken instruments and other problems could make it difficult to meet your deadlines.

A Business Owner’s Policy (BOP) is a combination of policies, combining covers such as General Liability insurance and business personal property coverage, to help protect small businesses from costly interruptions to service.

BOPs can be tailored to meet the requirements of your company. This can be a convenient, affordable way to cover yourself against the many risks that contractors face.

Workers’ Compensation Insurance

You have a obligation to look after employees’ health and welfare while they are working.

Workers’ Compensation insurance protects your company and its employees. If any of your employees get injured at work or are ill, this type of insurance will cover their medical bills. It will also cover some of their lost income if they’re unable to work because of the injury, as well as rehabilitation or physical therapy to transition the employee back into the workplace.

New Mexico law requires businesses with three or more full-time or part-time employees carry Workers’ Compensation insurance. If you are in construction, you must have Workers’ Compensation coverage even if you have only one employee.

What does contractor insurance cover in New Mexico?

Contractor insurance can safeguard your business from various risks. Based on the type of insurance you select, your business may be covered for:

  • Claim for injury and property damage to third parties (General Liability)
  • Unexpected Business Interruptions (Business Owner’s Policy)
  • Equipment breakdown (Business Owner’s Policy)
  • Workplace accidents and illnesses (Workers’ Compensation)

How much does contractor insurance cost in NM?

Insurance companies consider various factors when determining the premium for each business. The cost to your company could be based on factors like:

  • Choose the right kind of insurance
  • Your business size (annual revenue).
  • The number of people covered by the insurance policy
  • Your claim history
  • Select the coverage level you want.

How do I get general contractor business insurance in New Mexico?

BizInsure simplifies the process of protect the contracting company you work for.

In as little as 10 minutes, you can compare multiple quotes and choose the coverage that fits your budget and needs. Instantly receive your policy documents in your email.

Need some help with your project? Our licensed agents are happy to help at any stage along the way!

Compare multiple quotes and choose coverage for your New Mexico general contractor company.

As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this guide is general only and should not be relied upon as advice. The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.
© Copyright 2023 BizInsure LLC, 2015 ALL RIGHTS RESERVED BizInsure LLC; CA DBA: Simple, Smart, BizInsure Insurance Agency LLC; NY DBA: BizInsure Services LLC; NH DBA: Simple, Smart, BizInsure Insurance Agency; PA DBA: BizInsure Services LLC. 2950 Buskirk Ave Suite 300, Walnut Creek CA 94597. License #0H81929
Very satisfied with the online experience
Nicole h
Been a happy customer for years! Easiest company to receive a quote and get insured. No hassles! Easy payment! Finance plans, if needed!
jodi H.
Love it
Hanna R.
Every year, BizInsure is my go to for general and professional liability insurance! Thenrates are unbeatable.
Calandra K.
The agent was quick and efficient in generating a quote for my needs.
Theresa F.
I enjoy working BizInsure they always answer all my questions and make sure i have the correct coverage for my business.
Prompt and professional service from Biz Insure. Thanks Leslie and Liza!
Bev G.
Very easy to sign up for insurance.
Great company
Brown G.
Fast and efficient!
Kim C.
alireza J.
It was great being able to get a policy that suits my company's need in less than 30 minutes. They were vey thorough. Very competitively priced.
Lynette C.
I worked with Andrea for another start up business. She was very knowledgeable and help me pick the correct policy. Amazed at how quickly the process went.
Representative was very kind, helpful, and educated me well. I appreciated today's prompt service with confirmation that I was satisfied with what was provided to me.
Tina P.
Great company for.your low cost business insurance needs.
constantin T.
Staff was very fessional and friendly. I was able to get a quote and move forward within 20 minutes.
Pebbles S.
Complete C.
Super easy process.
Ashley G.
It’s very easy to understand and at a very reasonable price.
Mary M.
Professionalism, Quality, Responsive and budget friendly
Great rates, easy to understand and select appropriate coverage, can get in a jiffy
Brie C.
I have been a customer of BizInsure for a few years now and I love it. There customer service is awesome and the prices are affordable.
Danyale W.
Quick easy experience! The rep was knowledgeable & pleasant. Customer care was awesome to respond and clarify my concerns.
Kathy Ann A.
bizinsurance makes purchasing Business Insurance...SIMPLE!
Andrea W.
Great quality of Service ,faster and convenience way to pay at most. Thank you for your Service to my Healthcare Facility .
Quick and easy!!!!
Great service! Easy process and very informative representative. Andrea was great and very patience with our process. I would recommend using them!!
Terrance R.
Always and easy process. Thanks!
Gerald S.
Renewal was quick and easy online
Angelita K.
I had a great experience working with Andrea from BizInsure. She was extremely knowledgeable, helpful, and responsive throughout the entire process. She guided me through the different options available and helped me find the perfect home care professional liability insurance policy that suited my needs. Her professionalism and expertise made the entire experience smooth and hassle-free. I highly recommend working with Andrea and BizInsure for all your insurance needs.
Juliette S.
Easy to submit an application and to get quotes
Simone S.
I had the most pleasant prompt and professional experience of my life with Bizinsure. Everything was completed in record time, at an unbelievable cost…and my certificate of Insurance was promptly emailed to me. Most of all it was effective immediately. No hassle no back & forth, just great service highly recommend to all small businesses.
Marcia S.
advanced U.
Google Rating
Based on 244 reviews